Real estate company Experion Developers will invest Rs 1,000 crore to develop a new luxury housing project in Noida, Uttar Pradesh.
The company is a 100% FDI-funded real estate developer and wholly-owned subsidiary of Experion Holdings Pte. Ltd, Singapore.
In a statement on Monday, Experion Developers said it has acquired prime land in Sector 151, Noida.
When contacted, Nagaraju Routhu, CEO of Experion Developers, told PTI that the company has acquired 5-acre land through auction conducted by the state government.
He said the company would invest Rs 1,000 crore to develop this project.
"With a planned investment of over Rs 1,000 crore, the company is embarking on the development of this project," the statement said.
"The overwhelming response to Experion Elements in Sector 45, Noida clearly demonstrated the strong demand for premium residences in Noida. Our acquisition in Sector 151 is a direct response to this demand, reflecting our belief in the continued growth of the Noida market," said Nagaraju.
Experion Developers has developed real estate projects in Delhi-NCR.
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